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ADB forecasts strong recovery for Bangladesh economy

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Published: 13:14, 28 April 2021  
ADB forecasts strong recovery for Bangladesh economy

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Bangladesh, which weathered the COVID-19 pandemic better than most economies in South Asia, will continue to grow strongly as exports pick up.

The country’s GDP growth is projected to accelerate 6.8% in FY2021 with stimulus package implementation and recovery in global growth and world trade, the Asian Development Bank said in its Asian Development Outlook report on Wednesday.

“Continuing strong remittances will underpin growth in private consumption, and private investment will accelerate on favourable global economic conditions and efforts to improve the business climate,” the ADB said.

In FY2022, GDP growth is expected to edge up further to 7.2% as both exports and imports pick up under sustained global recovery.

Growth will continue to strengthen gradually in South Asia’s other economies.

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